Probably moving to the upside and see if we can breakout of the downward channels
Comment:
We broke out of the channel. This week (or even Today) we will probably test if we can get back in the channel. If that fails we will see a nice bounce up.
Comment:
It hit the channel on the dot. If we don't break back into the channel (with a daily close) this confirms we have broke out and will move to the upside.
Comment:
On Nov 1 it tried to pull back into the channel. On the close it failed to do so. This was a bullish sign, and we did see a rally on Nov 2. The next important target is too close the week above the channel. This will confirm a breakout.